Housing costs rarely rise because of one single policy, fee, or requirement. More often, they build layer by layer until the numbers no longer work. Capturing a Maryland icon, a housing advocate started to tag the layer-upon-layer of process as the "Smith Island Cake Effect."
 
In Episode 5 of The Briefing Room’s housing finance series, Dom Butchko and Terry Hickey are joined by Maryland Comptroller Brooke Lierman to explore the “Smith Island Cake Effect” and the many interconnected pressures shaping the cost of housing production. They talk through the layers and discuss where there are deeply considered policies, and where there are streamlining opportunities, to help advance Maryland toward more housing supply at every level.

Notes:2025 Housing & the Economy Report

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